The ANZ Commodity Price Index has now fallen a cumulative 28 per cent since its peak last July, returning to its October 2006 level.
Pulp was the biggest loser, with double-digit declines of 13.1 per cent.
A worldwide slump in demand took log prices down 7.9 per cent to hit a two-year low.
But China's demand for wood pulp has held up, ANZ says.
"This is good news for New Zealand, given that a quarter of our wood pulp exports are sent there."
The international price for pulp has been driven down by weakening demand for print advertising.
|
